Elgi Equipments consolidated Q2 PAT zooms 47.2%

Coimbatore: Elgi Equipments, a city-based maker of air compressors, posted a 47.2% year-on-year (y-o-y) jump in consolidated profit after tax (PAT) to Rs 26.5 crore for the second quarter (Q2) of 2017-18.

“For the initial part of the quarter, there was a slowdown in domestic demand due to uncertainties post the introduction of the Goods and Services Tax,” the company said. “The situation improved progressively during the later part of the quarter. Performance in most markets outside India met expectations,” it said.

The automotive division of the company recovered from the slowdown seen in the first quarter to post a 28% year-on-year growth in the second quarter. tnn